KAWASAKI Kisen Kaisha ("K" Line) has reached an agreement with US-based Air Tiger Express Companies, Inc (ATEC), to acquire 51 per cent of ATEC's shareholding to boost its logistics business.

The deal involves the acquisition of an initial 26 per cent stake in ATEC, with an option to purchase a further 25 per cent, reports the UK's Transport Intelligence.

New York-based ATEC is an international freight forwarder and provider of integrated logistics services that has offices and agents worldwide, employing around 750 staff. Its major subsidiaries are Air Tiger Express (USA) Inc, Air Tiger Express (Asia) Inc and Shenzhen Airport ATE Intl Freight Co Ltd.

"K" Line's international logistics business mainly comprises "K" Line Logistics that focuses chiefly on air and ocean freight forwarding and Century Distribution Service whose core area of business is buyer's consolidation, the report added.